- HSD has highest petroleum consumption share at 39.9% in April 2024
- HSD, MS, LPG, pet coke, and naphtha contribute over 82.6% of total petroleum consumption
India’s petroleum products consumption dropped by nearly 6% m-o-m in April 2024 to 19.89 million tonnes (mnt) compared to 21.09 mnt in March 2024. Petroleum products consumption increased by nearly 6.1% in April 2024 to 19.89 mnt against 18.71 mnt in the same month last year.
HSD (high speed diesel), MS (motor spirit), LPG (liquified petroleum gas), pet coke and naphtha are the five products which contributed over 82.6% of total consumption of petroleum products.
The total consumption of petroleum products stood at 19.87 mnt in April, 2024 as against 18.71 mnt of last year same month increased by 6.20%. The total consumption during financial year 2024 (FY24) stood at 233.30 mnt as against 222.3 mnt in FY23, Indicating an increase of 4.9%. Notably, the consumption of petcoke depends on various factors like use in cement manufacturers, which are the largest consumer of petcoke, to coal which is used as substitute due to overall economic considerations etc.
The maximum percentage growth amongst the five major products in April 2024 was observed for pet coke by 21.2% followed by MS by 14% over same month last year.
The percent share out of total petroleum products consumption for April 2024 is highest by HSD by 39.9% against 41.8% of last year same period, thus, registering a decrease by 1.9%. The maximum growth in percent share of consumption amongst major 5 products was recorded in MS by 1.2% over last year same period. It is followed by increase in share of consumption in petcoke by 1.0%.